subject: Expert Home Financing [print this page] Expert home financing advice from Andy Jorgensen of Guild Mortgage Company.
Interviewer: Today we have Andy Jorgensen with Guild Mortgage Company. Andy thanks so much for joining us.
Andy Jorgensen: Glad to be here.
Interviewer: So tell us a little bit about yourself and your mortgage company.
Andy Jorgensen: Okay great. I am a veteran of the mortgage lending industry. I have worked in residential lending for over 25 years doing either conventional or government lending. The passion of my business is first time home buyers, I enjoy helping people achieve the dream of homeownership and I work with most of the major agencies around town as far as down payment assistance and so forth to help people get into homes. Guild has been around since 1960, based out of San Diego, California and I am glad to work with them, they are a great partner.
Interviewer: So how can the Colorado Housing and Finance Authority help home buyers?
Andy Jorgensen: Thats a great program and agency, basically CHFA allows first time home buyers to buy for as little as $1000.00 down, they are required to take a home buyer education class and just need a minimum credit score of 620. They also serve non first time home buyers with that same $1000.00 down but its a great program that allows people to invest in a property and get their first home without having to spend tens of thousands of dollars.
Interviewer: Great. Now theres some other advantages for first time home buyers in Colorado, can you tell us about those?
Andy Jorgensen: Yeah, there is a program out there, its an enhancement actually to a loan, its called a mortgage credit certificate and what it does is allows the consumer, if they are a first time home buyer, to take a percentage of the interest that they pay on their loan as an actual dollar for dollar tax credit, not a tax deduction so they can save up to $2000.00 per year in federal income tax and its basically using their house as a vehicle to pay their federal taxes.
Interviewer: Great. How is the housing market doing now?
Andy Jorgensen: Housing is incredible right now in Colorado, if its $300,000 or less, its selling in days or hours, not weeks and months any longer, several factors to that, that are contributing to that; Number 1: values have reset, the foreclosure crisis is behind us for the most part and the inventory is way down. Number 2: I think the consumers feel good about the economy here in Colorado. Colorado generally leads the nation out of the recession and I think the economy here locally is very strong and lastly and most importantly our interest rates are at historic lows and people are taking advantage of it while they can.
Interviewer: Great. How can people get in touch with you?
Andy Jorgensen: The best way to get a hold of me is probably by telephone and that number is (720) 746-4073 or they can visit my web site at Guild Mortgage- Andy Jorgensen.
Interviewer: Great. Andy, thank you so much for joining us today, it was great learning more about the Colorado real estate market and about Guild Mortgage.
Andy Jorgensen: Thank you so much.
Interviewer: Again, we have been talking with Andy Jorgensen with the Guild Mortgage Company.
